Office Transactions India: Large Office Leasing Soars to 59% in India’s Top Cities in H1 2026, ETRealty
NEW DELHI: Large office transactions of 1 lakh sq ft and above accounted for 28.2 million sq ft of leasing activity across India’s top eight cities in H1 2026, according to a report by Knight Frank India.
These large-format deals contributed 59% of the total office leasing volume of 48 million sq ft during the period.
Bengaluru remained the largest market for large office transactions, recording 10.1 million sq ft of deals above 1 lakh sq ft in H1 2026. Such transactions accounted for 72% of the city’s total office leasing activity.
Hyderabad and NCR followed with 4.9 million sq ft each of large office leasing. Large transactions accounted for 65% of Hyderabad’s total leasing and 68% of NCR’s total office absorption.
Mumbai recorded 3.1 million sq ft of large office transactions, contributing 42% of the city’s overall office leasing during the period. Pune recorded 3.8 million sq ft of large office leasing, accounting for 57% of its total transactions.
Hyderabad emerged as the fastest-growing market for large office occupiers, with leasing of spaces above 1 lakh sq ft rising 63% year-on-year from three million sq ft in H1 2025 to 4.9 million sq ft in H1 2026.
The share of large office transactions in Hyderabad’s overall leasing increased from 51% to 65% during the period.
Office leasing in the mid-sized segment, comprising spaces between 50,000 sq ft and one lakh sq ft, stood at nine million sq ft in H1 2026, accounting for 19% of overall transactions.
Bengaluru led this segment with 2.3 million sq ft of leasing, followed by Mumbai at 1.7 million sq ft and Hyderabad at 1.4 million sq ft.
Leasing of office spaces below 50,000 sq ft totalled 10.8 million sq ft, contributing 22% of overall leasing activity.
Mumbai led the small office space segment with 2.5 million sq ft of transactions, followed by Bengaluru at 1.7 million sq ft, Pune at 1.6 million sq ft and NCR at 1.5 million sq ft.
Among smaller markets, Ahmedabad recorded 0.8 million sq ft of total office transactions in H1 2026, with no large office deal of over 1 lakh sq ft. Chennai recorded 1.1 million sq ft of large office transactions, while Kolkata recorded 0.3 million sq ft.
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